Online Casinos in Pennsylvania Break Through Milestone Number in Latest Revenue Figures

The PGCB (Pennsylvania Gaming Control Board) has announced online casino revenue numbers for July 2024, with these totalling $174.3 million. This sees the overall winnings made by the operators in the state have now broken through the $6 billion barrier, doing so in just over five years.

Online casino was legalized in the Keystone State in July 2019 and is one of the major success stories in iGaming. July’s numbers are over 31% up on the same period in 2023 and an increase of 8.5% on June. These high numbers are, of course, good for the local authorities in Pennsylvania, with taxes in the state bringing in $342.9 million thus far in 2024.

Among the big winners in terms of online casinos in PA, with PENN National bringing in $64 million in July, Valley Forge came in second place with $45.5 million, with BetRivers ranking third. Golden Nugget marked a year of operation in the state, claiming $5.5 million, their second biggest month to date.

Overall revenue from gambling, iGaming plus sports betting and retail betting in physical brick-and-mortar establishments, hit $500.8 million for July 2024. An increase of 7.2% on the same period last year and 6.1% up on last month.

Revenue from retail slots accounts for $204.3 million, albeit land-based table revenue dropped by 4.8%. Sports betting posted strong numbers, with the handle rising by over 22% year-on-year and revenue reaching $52.7 million.

FanDuel leads the way in terms of sports betting, with DraftKings in second place and BetMGM some way back in third spot. Pennsylvania is the leading state in terms of iGaming, and FanDuel is excelling in the region.

Flutter, FanDuel’s parent company, are no doubt buoyed by strong numbers in the state and their CEO, Peter Jackson, commented on this ongoing success and spoke about the importance of exclusive games offered by third parties,

“Clearly, the big part of iGaming is working with third-party providers,”

“We’ll continue to work extensively with partners in that space.”

“In time, this will unlock important benefits through access to in-house content, promotional capabilities and also greater platform stability,”

“This, combined with the launch of more exclusive titles and promotional features in the quarter are further evidence of the fantastic road map of improvements we still have for iGaming players.” Jackson added.

“We’ve got the best product in the market,” Jackson said. “We’ve got the best pricing in the market, and we intend to work very hard to keep a long way ahead of our competitors,” Jackson concluded.

FanDuel saw second-quarter earnings increase by 47%, and seemingly the sky is the limit.

In terms of the overall online casino market in Pennsylvania, things are thriving. The numbers for July represent the third-best month ever, and the $2.5 billion recouped in lifetime online casino tax revenue is certainly ample compensation for the legalization of the pastime in the region.